Buyer Offer Strategies
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Buying a home is not as simple as submitting an offer price you want to pay and getting an accepted offer on your first offer submission like you see on many HGTV shows, submitting an offer has many nuances that should be considered to help increase your chances of your offer's acceptance. Below are some topics you'll want to consider when formulating your offer strategy and submitting an offer. Please note, considerations below only scratch the surface of what you'll want to consider. If you do not have a Realtor, I'd love to help you buy a home. Please call me at (800) 477-0075 x 3 or complete online form, click here. - Kevin Nakano
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Your situation - You'll want to take into consideration your own situation, such as how long have you been looking? How much do you like the property (condition, location, upgrades, etc.)? What is your budget? Etc.
Your financing - What type of financing are you using and how will seller view your financing as compared to other buyers? Are there any property condition issues that would pose a problem for your financing? What could the property appraise for? Etc.
Seller's situation (If information is available) - You'll want to take into consideration why is the seller selling the property? How many offers has seller received? Are there any material issues or special seller requirements? Etc.
Market conditions - How many comparable homes are on the market? How fast are homes going pending sale? What types of buyers are you competing against in your price range? What types of tactics are other buyers using? Etc.
After you've considered these and other factors, then you'll need to decide on best offer strategy for you and the property you're interested in. The factors above are only some of the topics you should discuss with your Realtor before submitting an offer. Once you've decided on your strategy, your strategy will help determine your important offer terms and will give you the best chance of success given your circumstances and the property's specific situation.
Your financing - What type of financing are you using and how will seller view your financing as compared to other buyers? Are there any property condition issues that would pose a problem for your financing? What could the property appraise for? Etc.
Seller's situation (If information is available) - You'll want to take into consideration why is the seller selling the property? How many offers has seller received? Are there any material issues or special seller requirements? Etc.
Market conditions - How many comparable homes are on the market? How fast are homes going pending sale? What types of buyers are you competing against in your price range? What types of tactics are other buyers using? Etc.
After you've considered these and other factors, then you'll need to decide on best offer strategy for you and the property you're interested in. The factors above are only some of the topics you should discuss with your Realtor before submitting an offer. Once you've decided on your strategy, your strategy will help determine your important offer terms and will give you the best chance of success given your circumstances and the property's specific situation.
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